Tom Hendrickson leading Brookhill Village redevelopment in Charlotte
Triangle developer Tom Hendrickson is leading the groups that have closed on development and leasehold rights for Charlotte’s Brookhill Village, a low-income neighborhood near the South End area that is slated to turn into a more appealing residential site.
The property, which is home to more than 300 people, has attracted much interest over the years because its apartment rates of less than $500 a month contrast with the new developments that have flooded the South Tryon and South End areas over the last decade. But living conditions at Brookhill have drawn complaints for years, prompting an agreement between the federal government and Brookhill owners calling for major improvements at the location. The land at Brookhill has been owned by Charlotte billionaire C.D. Spangler Jr., who died in 2018, while others have owned the apartments.
The project is being led by Hendrickson, who has been involved in Triangle area projects for many years, and the South Tryon Community Development Corp. nonprofit, which is headed by Ray McKinnon, pastor of nearby South Tryon United Methodist Church. The South Tryon group bought the land lease at Brookhill village for $792,000 on Dec. 31, the Charlotte Business Journal reported.
Plans call for a 324-unit multifamily community with three-story and two-story buildings on about 15.5 acres. The proposal includes 65 units that will be available to residents earnings no more than 30% of the area median income, 97 units for those earning as much as 60% of AMI and two at 80% AMI. The other 160 will be leased at market rates.
An affiliate of Lookout Ventures, Inc. will serve as the developer and Brookhill Land Lease Ventures, LLC will serve as leasehold tenant for the proposed project. Both are led by Hendrickson, a Zebulon resident who has been active in Democratic politics and entrepreneurial activities for many years, including helping found North State Bank in Raleigh.
“The issues that have clouded Brookhill Village for years are gone,” Hendrickson said in a press release. “New Brookhill is an exciting half-affordable/half-market rate mixed income community that should be a case study on how to redevelop an area by providing quality housing without ignoring its history and displacing its residents. Now it depends on the Charlotte community joining us to find the resources to bring New Brookhill to reality.”
McKinnon said New Brookhill represents “true collaboration with community partners who care about the people, history and legacy of Brookhill Village. Now with support and financial resources from the greater Charlotte community, we can prove that Brookhill matters in the future of this entire community.”
Construction will occur in phases to avoid displacement of residents, according to the press statement. Current residents in units to be demolished will be given priority to move into new units for which they quality.